Trump and Family Could Be Barred from Crypto — Senator Adam Schiff Unveils Shocking COIN Act Proposal

TradingKey – A new bill introduced in the U.S. Senate could ban the president and their immediate family from engaging in crypto-related business, potentially targeting Donald Trump and his family’s growing footprint in the digital asset space.

On Monday, Senator Adam Schiff (D-CA) introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act, which would prohibit the U.S. president, vice president, and their close relatives from issuing, sponsoring, or endorsing cryptocurrencies, NFTs, or stablecoins while in office.

While the bill is framed as a forward-looking ethics measure, it appears to be a direct response to Trump’s extensive crypto involvement. According to a June 13 financial disclosure from the U.S. Office of Government Ethics, Trump holds $15.75 billion worth of WLFI governance tokens, along with a significant amount of TRUMP meme coins. He has also earned substantial income from NFT sales and indirectly profited through entities like Fight Fight Fight LLC CIC and Digital LLC.

Further reports from BusinessFocus reveal that Barron Trump, the former president’s youngest son, has earned nearly $40 million from the family’s WLFI crypto venture, with an estimated $25 million in post-tax income. Meanwhile, Melania Trump launched her own meme coin, $MELANIA, which at its peak reached a market cap of over $16 billion.

The COIN Act would also require public officials to disclose any digital asset sale over $1,000, with penalties including fines and up to five years in prison for violations.